Sunday, January 10, 2010

How do I become a Loan officer/Mortgage broker in NYC? - mortgage broker training

I have a degree in business administration from 4 years and wants to start a new career as a mortgage broker. I need professional help, where and how to begin your training to find the best training and other measures.

3 comments:

NONAME
said...

The only way is to look good in your market and see who are the main actors.

Mortgage Broker Commission sales employees only 99% of the time. Therefore, finding a job in a bar at startup, it will be at best 60-90 days before receiving the first billing after the launch of mortgages. Mortgages are processing time, and close only after payment. This can be 2 weeks to 90 days, depending on whether a purchase or refinancing.

Many companies specialize in buying some of the refinancing. A finding that the markets for their loan officers to a large extent on the refi. Get one or two years experience before testing the market to buy, because it is very difficult for you with referrals to a broker if he can trust not closed a loan before.

The only way is to look good in your market and see who are the main actors.

Mortgage Broker Commission sales employees only 99% of the time. Therefore, finding a job in a bar at startup, it will be at best 60-90 days before receiving the first billing after the launch of mortgages. Mortgages are processing time, and close only after payment. This can be 2 weeks to 90 days, depending on whether a purchase or refinancing.

Many companies specialize in buying some of the refinancing. A finding that the markets for their loan officers to a large extent on the refi. Get one or two years experience before testing the market to buy, because it is very difficult for you with referrals to a broker if he can trust not closed a loan before.

Your work received the best best, a foot in the door - trying, for one of the major lenders. They are usually but not always pay extra on the side of the Commission, because they take their time and money for training. From there, you spend a couple of years, and the agents of the things when you have the contacts and resources. It is a difficult time in the industry, because things have fallen. It is still making money, but is not as easy as it was several years ago.